America’s First Home Energy Security Plan Available for Just $1 Per Day
LOS ANGELES, Oct. 19, 2016 (GLOBE NEWSWIRE) -- Swell Energy, Inc., a California company with a mission to accelerate the mass adoption of clean energy, announced today that it is launching the world's first fully-contained energy security system for home consumers called the EnergyShield.
In creating the EnergyShield, Swell set out to assemble a product that would make security against blackouts and "off-grid" independence affordable to any homeowner in America. Swell intentionally sized the system to fit on the majority of homes in America and maximize the benefits of available federal incentives. The EnergyShield not only allows homeowners to protect their power, securing their homes against the vulnerability of the grid and against rising costs of electricity, it also opens up an opportunity for homeowners and utility companies to collaborate in easing the strain on the electrical grid.
The Department of Energy and the Obama administration have acknowledged that one of the greatest threats to America's national security is a deteriorating and outdated electrical grid. In the U.S., this antiquated system — much of which was built over 80 years ago — is beginning to fail and at an unprecedented rate. Estimates state that it would require as much as $1.2 trillion to upgrade the grid to acceptable modern standards. In addition, the cost of operating the grid with conventional energy from fossil fuels continues to rise for both homeowners and the environment.
Local governments and utility companies have begun to incentivize homeowners for installing technology like the EnergyShield that can produce and store energy to be deployed when the grid needs it most. Swell has recently been contracted by Southern California Edison to create a fleet of 3,000 home batteries, which equates to 20MWh of stored energy capacity. This will be the largest fleet of networked home batteries built to-date and will serve to stabilize the Southern California energy supply.
Residents of California are best positioned to take advantage of state incentives that make home batteries economical. The state recently implemented a statewide $25 million home battery fund under the Self-Generation Incentive Program that can cover over 40% of the installed cost of a home battery. Swell is actively working with utility companies and state governments to open up opportunities like this for homeowners across the nation.
"So far, the cleantech industry has been a complicated and confusing sector for homeowners to participate in. We're trying to simplify it, make it super affordable and provide as much immediate benefit to homeowners and utility companies as possible. EnergyShield puts solar and energy storage in reach for homeowners across America," said Tyler Gaul, Director of Marketing at Swell Energy.
In coordination with the launch of EnergyShield, Swell has also announced a $500 discount for any homeowner in areas affected by Hurricane Matthew interested in securing their home against future grid failure.
About Swell Energy
Swell Energy is a technology company with a mission to create a sustainable energy future by accelerating the mass-adoption of clean energy technology. Swell makes it easy for consumers to take control of and optimize their home energy use by assisting homeowners in selecting the right products, providing financing options, and managing the design and installation process. It also makes home batteries rewarding by aligning benefits to homeowners and utilities, and enabling homeowners to utilize their batteries to benefit the grid.